DBT Bureau
Bengaluru, 1 March 2025
Dodo Payments, a Merchant of Record (MoR) platform, has raised $1.1 million in a pre-seed funding round.
The investment was led by Antler, 9Unicorns, and Venture Catalysts, with significant participation from angel investors including Nitin Gupta (Uni Cards
and PayU), Maninder Gulati (former Oyo CSO/Lightspeed), Raymond Russell (former Chief of Staff at Boom Supersonic), Preethi Kasireddy (former Partner, a16z), and Nishant Verman (former Flipkart CorpDev head) among others, the company said in a press release.
Founded in 2023 by Rishabh Goel and Ayush Agarwal, Dodo Payments addresses the intricate challenges digital-first businesses face in processing international payments.
Traditional payment gateways often present hurdles such as low success rates, limited payment methods, extensive documentation, and complex tax & regulatory requirements. Dodo Payments simplifies these complexities, enabling merchants to effortlessly accept payments from over 150 countries with success rates exceeding 90%, the company said.
Commenting on the fund raise, Rishabh Goel, Co-founder and CEO of Dodo Payments said, “In today’s rapidly evolving digital economy, businesses in emerging markets often face significant barriers when engaging in cross-border transactions. At Dodo Payments, we are committed to dismantling these obstacles by providing a seamless and compliant payment infrastructure. This investment not only validates our mission but also equips us with the resources to enhance
our platform’s capabilities, ensuring that our merchants can thrive in the global marketplace.”
Ayush Agarwal, Co-founder and CPTO said, “The complexities of international payments are constantly evolving. With this funding, we are poised to advance our platform’s architecture, incorporating modules that address the nuanced challenges of cross-border transactions. Our focus remains on delivering a secure, efficient, and user-friendly experience for our merchants, empowering them to expand their reach without the typical constraints associated with global payments.”
